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LoJack appoints Alan L. Bazaar to company's board of directors
Canton, MA, March 18 – LoJack Corporation, a provider of safety, security and protection for an ever-growing range of valuable assets and people, has appointed Alan L. Bazaar to its board of directors, effective immediately, under an agreement with shareholder Engine Capital LP.
Bazaar, 44, is chief executive officer of Hollow Brook Wealth Management, an asset management firm based in New York City, and chairman of the board of directors of the NYSE-traded Wireless Telecom Group, Inc. A Certified Public Accountant, he has more than 15 years of investment management experience and has served on several public and private company boards.
"We have had several positive conversations with Engine Capital about our strategy and growth opportunities," said LoJack CEO and President Randy Ortiz. "Alan Bazaar brings to our Board a strong financial background and experience serving as a director for various technology companies. We look forward to working together constructively as we continue to position the company for enhanced growth and profitability."
“We are pleased to have worked constructively with the board and management to add Alan Bazaar to the Board,” stated Arnaud Ajdler, managing partner of Engine Capital, stated. "We believe Alan's experience can assist the Board and management as they work to continue to improve profitability and enhance value for the benefit of all shareholders."
As part of the agreement, LoJack and Engine Capital will work together to identify one additional mutually agreeable director for appointment to the Board prior to the 2015 Annual Meeting of Shareholders.
LoJack Corporation is a provider of safety, security and protection for an ever-growing range of valuable assets and people. Leveraging its core strengths, including its well-known brand, direct integration with law enforcement and dealer distribution network, LoJack Corporation is expanding into new areas across the continuum from theft deterrence to recovery, fleet management and dealer inventory management services.